Illinois Capital Gains Tax Calculator
Calculate capital gains tax in Illinois. State rate: 4.95%. See federal + state combined tax on stocks, property, and investments.
How This Calculator Works
Calculation methodology and assumptions
Capital gains tax is applied to the profit from selling an asset. Federal long-term rates (held 12+ months) are 0%, 15%, or 20% depending on income. Short-term gains are taxed as ordinary income. Illinois's state capital gains tax rate is 4.95%. This is added on top of federal taxes. The Net Investment Income Tax (NIIT) of 3.8% may also apply for high earners.
Key State Information
Illinois state capital gains rate: 4.95%. Illinois's rate is below average compared to other states. Combined with federal taxes, Illinois investors may pay up to 28.8% on long-term gains for top earners.
Frequently Asked Questions
What is the capital gains tax rate in Illinois?
Illinois's state capital gains tax rate is 4.95%. Federal long-term rates are 0%, 15%, or 20% depending on income, plus a potential 3.8% NIIT. Total combined rate can be up to 28.8%.
Does Illinois tax capital gains differently than income?
In Illinois, capital gains are generally taxed at the same rate as ordinary income at the state level.
How can I reduce capital gains tax?
Hold assets for at least 12 months for lower long-term rates. Use tax-loss harvesting to offset gains. Consider Qualified Opportunity Zones, 1031 exchanges (real estate), and maximizing retirement account contributions.